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Nov 30, 2012
11/12
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both for and include some of the spending cuts in this deal to avoid the fiscal cliff. because that's not what they're doing right now. should they include this? >> yes, and i know that democrats except that this has to be a balanced package that includes revenues and cuts and spending cuts. >> yet months ago, that was voted down 99 to zero. earlier this week, the number two democrat in the senate, dick durbin, insisted major spending cuts and entitlement reform will not be part of these talks. nancy pelosi has been noncommittal about whether cuts will be in the deal. still, they are trying to breathe into the talks with vice president biden shopping avenue costco in washington, picking up a big-screen tv and an apple pie and insisting he is optimistic of the deal. >> i am. all these folks in the store. they are going to make a difference. reporter: a phone call last night between speaker boehner and the president was very curt. it signaled that the president is flexible on taxes by not being specific on the new rates. >> i will say that there can be no deal without rat
both for and include some of the spending cuts in this deal to avoid the fiscal cliff. because that's not what they're doing right now. should they include this? >> yes, and i know that democrats except that this has to be a balanced package that includes revenues and cuts and spending cuts. >> yet months ago, that was voted down 99 to zero. earlier this week, the number two democrat in the senate, dick durbin, insisted major spending cuts and entitlement reform will not be part of...
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Dec 2, 2012
12/12
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it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox news sunday. plus, we've seen this movie before. the two parties edging closer and closer to the brink. we will ask our sunday panel whether we will get a happy ending or an economic disaster. and our power player of the week. a young beauty queen has to make a tough choice. all right now on fox news sunday. >> hello again from fox news in washington. well, we had quite a day around here friday with talks to avoid the fiscal cliff deadlock, and everyone saying the other side is to blame, pressure secretary geithner scheduled a ground of interviews. then friday afternoon, speaker boehner's office call
it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox...
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Dec 6, 2012
12/12
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president obama has all the leverage because he knows if it goes over the fiscal cliff, tax cuts expires and he'll never let the top 2% get that tax cut reinstated. if they do what you suggested, vote the tax cut, continue it for the 98%, then the leverage switches to them come the time of the debt limit. they might be able to make a deal where they save some of it so it doesn't go up to 39%. maybe goes up to 37.5%. maybe they do the buffett rule and only raise rates on people making $500,000. they have a little room to leverage but right now they have zero leverage, zero. >> do you agree with that? i don't know if i agree with that. it's hard once the rates go back to 39.6 or whatever they go to, to go back and say, now we to want cut taxes for the rich. what's the reason to do it? the republican party says we have to stop the government, stop paying our debts, don't pay our bills anymore because we have to help out the rich now. that would be the worst situation to be in. >> as the conversation shifts really to the bottom line in the deficit. at the end of the day the whole thing is ab
president obama has all the leverage because he knows if it goes over the fiscal cliff, tax cuts expires and he'll never let the top 2% get that tax cut reinstated. if they do what you suggested, vote the tax cut, continue it for the 98%, then the leverage switches to them come the time of the debt limit. they might be able to make a deal where they save some of it so it doesn't go up to 39%. maybe goes up to 37.5%. maybe they do the buffett rule and only raise rates on people making $500,000....
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Dec 1, 2012
12/12
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>> it is this kind muchunging to get us over the fiscal cliff. we are two parts to the solution. focus on the correct entitlements to cut and reorganize medicare so it works but doesn't take us down the drain. >> there are no offer the allelula. zero cuts. >> we are in negotiation. what happened this week. >> it is it a call for unconditional surrender is what it is. >> you think this is going to be the deal. >> victoria when you come to a bargaining table you start high and pull back. but this proposal, had no spending cuts all all. >> there is a stimulus increase. >> it s unbelievable to me. >> what is that mark? >> you are saying -- >> we have a revenue problem. we took away a trillion out of the budget by giving tax cuts to rich people and you need to put that revenue back. >> by the way, >> we spend another trillion. >> they are tax rates . they are not tax cuts. they are tax rates . how much they bring in. >> what are you talking about? >> 84 billion a year . that is 84 billion that is enough to cover government spending for a week and a half. the issue, dc lives in a bubbl
>> it is this kind muchunging to get us over the fiscal cliff. we are two parts to the solution. focus on the correct entitlements to cut and reorganize medicare so it works but doesn't take us down the drain. >> there are no offer the allelula. zero cuts. >> we are in negotiation. what happened this week. >> it is it a call for unconditional surrender is what it is. >> you think this is going to be the deal. >> victoria when you come to a bargaining table...
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Dec 2, 2012
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we go over the so-called fiscal cliff. and massive government spending cuts. >> and some people fear going off of the cliff could cost thousands of jobs and push our fragile economy back in recession. it seems like we have been down this road before. that deal according to the president and congressional republicans is far from a sure thing. the president said it was a so-called balanced approach to solve this crisis and what he proposed this week was a classic bait and switch on the american people. >> it is unacceptable for republicans to hold middle class tax hostage because they refuse to let them go up on the wealthiest americans. >> people saying that the deal he offered doesn't look like a deal. steve is live in the washington bureau. is there any movement on either side. >> not much. a few republicans who are willing to talk about higher tax rev news but not higher tax rates. the president made a direct appeal to the public. the toy factory in pin pen. he urged congress to pass a bill and extend the era tax cuts fo
we go over the so-called fiscal cliff. and massive government spending cuts. >> and some people fear going off of the cliff could cost thousands of jobs and push our fragile economy back in recession. it seems like we have been down this road before. that deal according to the president and congressional republicans is far from a sure thing. the president said it was a so-called balanced approach to solve this crisis and what he proposed this week was a classic bait and switch on the...
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Dec 6, 2012
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. >> so much for the fiscal cliff. why is the head of td bank group so bullish on the united states right now? he'll join me for another cnbc exclusive next. we'll also talk about his company's earnings. >>> later, will the shaky global economy throw a wrench into luxury goods maker ppr's balance sheet? back in a flash plp. . there is no mass-produced human. every human being is unique. and there is one store that recognizes it. the sleep number store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shape. temperature-balancing bedding. dual warmth comforters. all designed around the sleep number bed: a bed with dual-air technology that allows you to adjust to the support your body needs. each of your bodies. in the name of human individuality: the sleep number collection. discover how our sleep professionals can individualize your slee
. >> so much for the fiscal cliff. why is the head of td bank group so bullish on the united states right now? he'll join me for another cnbc exclusive next. we'll also talk about his company's earnings. >>> later, will the shaky global economy throw a wrench into luxury goods maker ppr's balance sheet? back in a flash plp. . there is no mass-produced human. every human being is unique. and there is one store that recognizes it. the sleep number store. the only place in the world...
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cliff or what we should do about tax increases and spending cuts. if mr. boehner is the principal negotiator, what he had to say lasted all of 30 seconds. he simply came out and said look, if the president doesn't agree with our plan, the republican plan, he should submit a plan that could pass through congress. he has failed to do that. he said, however, and he used these words, that speaker boehner and the republicans are ready and eager to negotiate with the president. doesn't sound like there's any degree of compromise there. there's an extremely short statement, really didn't say much of anything. that's it, speaker boehner. mr. cantor is now speaking. again, he's keeping it very very short and very much to the point. but the principal negotiator had all of 30 seconds. that's it. we brought it to you live. >>> back to the judge. >> well i was sort of hoping he would say no new taxes no new spending no new borrowing, draw a line in the sand, do what you were sent there to do. they are becoming enablering of obama -- they are becoming enablers ob
cliff or what we should do about tax increases and spending cuts. if mr. boehner is the principal negotiator, what he had to say lasted all of 30 seconds. he simply came out and said look, if the president doesn't agree with our plan, the republican plan, he should submit a plan that could pass through congress. he has failed to do that. he said, however, and he used these words, that speaker boehner and the republicans are ready and eager to negotiate with the president. doesn't sound like...
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Dec 7, 2012
12/12
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cliff -- he wants what's in the fiscal cliff. it's defense cuts and tax hikes. we're compromising with someone who doesn't want to compromise. he likes that stuff. i know he doesn't want to raise taxes on the middle class. but we have to give up everything in this deal. we should articulate our principles or give him what he wants. we're going to vote present and say -- >> boehner's doing the best he can. he's playing a short deck right now. >> you really think he's the best spokesman for conservatism. >> no, no. >> we should put a paul ryan -- we need younger leadership. >> paul ryan came out publicly in support of boehner. that's point number one. secondly, boehner jumped ryan over more senior people to put him as head of the budget committee. that's my second point. and boehner himself is being advised by ryan every step of the way. >> what do you say about this purge then? he's purging people that wants to balance the budget. >> you lost, ron. don't blame boehner. blame the republican party. blame conservatives. jim demint sa
cliff -- he wants what's in the fiscal cliff. it's defense cuts and tax hikes. we're compromising with someone who doesn't want to compromise. he likes that stuff. i know he doesn't want to raise taxes on the middle class. but we have to give up everything in this deal. we should articulate our principles or give him what he wants. we're going to vote present and say -- >> boehner's doing the best he can. he's playing a short deck right now. >> you really think he's the best...
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. >> for the first time, plan for massive spending cuts from going over the fiscal cliff warning business executives, the economy could take another hit if republicans decide to extend just to middle class tax cuts to avoid the cliff for now and come back next year with more leverage to tie spending cuts and medicare reform to another hike in the nation's debt ceiling. >> we're not going to play that game next year. if congress, in any way suggests they tie negotiations to debt ceiling votes, and take us to the brink of default again as part of a budget negotiioion, i will not play that game. >> republicans held their meeting with small business owners and denied they are trying to punt until next year. >> i'll be here. i'll be available at any moment to sit down with the president to get serious about solving the problem. >> they noted the president has not scheduled any meetings with g.o.p. leaders in weeks and not offered a counterproposal to boehner's plan from last week. >> frankly, it was the balanced approach the president's been asking for. we need a response from the white house.
. >> for the first time, plan for massive spending cuts from going over the fiscal cliff warning business executives, the economy could take another hit if republicans decide to extend just to middle class tax cuts to avoid the cliff for now and come back next year with more leverage to tie spending cuts and medicare reform to another hike in the nation's debt ceiling. >> we're not going to play that game next year. if congress, in any way suggests they tie negotiations to debt...
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Dec 3, 2012
12/12
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we can make the fiscal cliff issue go away if he says let's extend the tax cuts for everybody. it is going to be a patchwork. it is not a permanent deal. just do it and talk about it. >> despite the concerns about going over the cliff we should let you know that december is actually a winning month for stocks. stocks are up 2% on average in december since 1990 with utilities and industrials leading the gain. should you be betting with history or maybe this time is different? the data mattas. they have a 2.8% gain in the month of december. >> what happened last year? last year we were dealing with europe was the front part of this burner of policy. the esm was established. it looked like we were in a place where we could get systemic risk off the table. markets were facing heavy flows of deleveraging. i think the fiscal cliff we are spending a lot of time on and we will continue to see deleveraging of trades that have worked because of all of the tax implications. i don't think you can be sure this is the same santa claus rally that you want to blindly buy. last year was very pa
we can make the fiscal cliff issue go away if he says let's extend the tax cuts for everybody. it is going to be a patchwork. it is not a permanent deal. just do it and talk about it. >> despite the concerns about going over the cliff we should let you know that december is actually a winning month for stocks. stocks are up 2% on average in december since 1990 with utilities and industrials leading the gain. should you be betting with history or maybe this time is different? the data...
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Dec 4, 2012
12/12
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cliff which is called the series of spending cuts and expiring tax breaks which would be an economic disaster. the sticking point is the call for higher taxes for families, higher taxes on amounts earned above $250,000. everyone gets the tax cut, the first $250,000 is not taxable only but that. the president says, look, i ran on this and i am going to do this. but he is signaling he could be flexible on how high they would go. ed henry is like. this has been out there for a few days. >>reporter: that right. the president had the governors in today and they underdiscover the fiscal cliff will not just impact the national economy but have a lot of impact on state and local economies, as well, and their state budgets, et cetera. the president, though, is standing firm. and jake carney saying unless the republicans give in on tax rates and raise the bush tax rates on the rich, there is no deal and the president is willing to go off the cliff. they hammered speaker boehner's proposal. >> we don't know who pays. we don't know what we are talking about in terms actual legislation to increas
cliff which is called the series of spending cuts and expiring tax breaks which would be an economic disaster. the sticking point is the call for higher taxes for families, higher taxes on amounts earned above $250,000. everyone gets the tax cut, the first $250,000 is not taxable only but that. the president says, look, i ran on this and i am going to do this. but he is signaling he could be flexible on how high they would go. ed henry is like. this has been out there for a few days....
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it's part of the fiscal cliff, because just like all of these other things, stuart, people are trying to move income out of 2013, into 2012, which makes this year look a little bit better than it should, but what it means is that when we hit january 1st, 2013, the economy's going to collapse as far as i can tell. stuart: whoa, whoa, collapse is a strong word, art. >> collapse as low as we are, i agree. stuart: now, the obamacare tax change is a change in the tax rate. >> yes. stuart: that's something that the president's absolutely insisting on. he wants tax rates to go up for the top two income brackets and that's being forced by the republicans. they don't want the rate to go up. they'll pay more in overall revenue, but don't want the rate to go up. your comments please on the president's stand-fast position on raising tax rates? >> well, rates are where the real action is, i mean, if you broaden the base and lowered rates, tax revenues on the rich went up. you'd have far less-- and the when you're growing the economy and profession of vobs and output, employment production. stuart:
it's part of the fiscal cliff, because just like all of these other things, stuart, people are trying to move income out of 2013, into 2012, which makes this year look a little bit better than it should, but what it means is that when we hit january 1st, 2013, the economy's going to collapse as far as i can tell. stuart: whoa, whoa, collapse is a strong word, art. >> collapse as low as we are, i agree. stuart: now, the obamacare tax change is a change in the tax rate. >> yes....
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Dec 1, 2012
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let's at least get over the psychological hurdle of the fiscal cliff. move on, and put some bandaid together and then hopefully, the next group in there, minus obama, starts to cure this four years from now, because nothing's going to happen in the next four years good. but maybe we get through the fiscal cliff, but then another fiscal cliff comes, that's the whole point of this. >> in fact, and there was a proposal this week to try it get rid of the fiscal cliffs and no longer give congress full power to extend the debt. but i think, i'll tell you what, i'm kind of curious to see the other guys, i think we're going over the fiscal cliff because i think that congress would much rather have us go over the fiscal cliff and then vote to lower taxes and increase spending and they can't bare to raise taxes and reduce spending and that's where we'll end up in three months and have a vote to lower taxes and increase spending. >> jonas what does it do in the short-term, i know you're talking long-term. but short. >> they're scaring everybody about this, like we
let's at least get over the psychological hurdle of the fiscal cliff. move on, and put some bandaid together and then hopefully, the next group in there, minus obama, starts to cure this four years from now, because nothing's going to happen in the next four years good. but maybe we get through the fiscal cliff, but then another fiscal cliff comes, that's the whole point of this. >> in fact, and there was a proposal this week to try it get rid of the fiscal cliffs and no longer give...
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Dec 4, 2012
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the fiscal cliff was agreed to by republicans and democrats. now nobody wants to pay the price. i say let's go ahead and get this done. the fact is it's actually a slope and not a cliff. we've got to get this done. i'm serious about deficit reduction. i don't think you can talk about deficit reduction without more taxes and cutting spending both. >> do you think the white house is ready? do you have people there with a wink and a nod, howard, that say you're right? >> i don't really know. i mean, they couldn't possibly say that, they're in the middle of a negotiation. and so we'll see what happens. but i believe that the country will get through this. there will be some pain in the next year. and the other thing i believe is that wall street who's moaning and groaning about this is actually going to do much better. because this is something i agree with rick about is certainty is critical to the business community. we can disagree about the regulatory stuff, but the fact is if we do this, if we go over the cliff, tax rates will be at a certainty. you can say they'll be too high,
the fiscal cliff was agreed to by republicans and democrats. now nobody wants to pay the price. i say let's go ahead and get this done. the fact is it's actually a slope and not a cliff. we've got to get this done. i'm serious about deficit reduction. i don't think you can talk about deficit reduction without more taxes and cutting spending both. >> do you think the white house is ready? do you have people there with a wink and a nod, howard, that say you're right? >> i don't really...
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Dec 3, 2012
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independent of all this jibber jabber over the fiscal cliff, the economy is in really rough shape now. >> it is. we're seeing businesses cut back, getting ready for the eventuality they see coming, no deal by december 31st this worsening. sam, how do you want to be invested in 2013? where is the growth in the economy coming from, if anywhere? >> i think the growth is coming from an improvement in the housing sector. i think we are starting to see a slowdown in the job loss from the government sector. so, i think we're going to be seeing a better than half speed recovery. so, you do want to be taking a balanced approach. we do favor the consumer discretionary at this point offsetting with health care. >> gentlemen, thank you. more breaking news coming away right now. thanks for your thoughts. appreciate it. >> we have the letter. let's get to eamon javers. >> this is the letter speaker boehner sent to the president of the united states. the language he's choosing is important to understand, as he draes the president. the speaker saying, after a status quo election in which both you and
independent of all this jibber jabber over the fiscal cliff, the economy is in really rough shape now. >> it is. we're seeing businesses cut back, getting ready for the eventuality they see coming, no deal by december 31st this worsening. sam, how do you want to be invested in 2013? where is the growth in the economy coming from, if anywhere? >> i think the growth is coming from an improvement in the housing sector. i think we are starting to see a slowdown in the job loss from the...
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and incremental revenues, what is happening with the whole fiscal cliff mantra? once they have an understanding of what is going on and there's light at the end of the tunnel and the marketplace perceive that as something that will lead to economic growth in the united states u.n. absolutely see the individual investor get back and think aggressively. they're waiting and watching. liz: we have got to talk about perfect that you are now a coach again. you went back to your dream job, your coaching in coastal carolina. i love the cover of the book that has been written about you, it shows a guy with a briefcase heading back on to the field. what has that been like for you? what has the journey like? >> the journey itself for me has always been as much as i love football, what always impacted me most in the business world was the impact you might be able to have on others and for me it is about an 18 to 22-year-old boy learning to be a man and stand on his own two feet and a accept responsibility for himself and understand the needs to learn the consequences of his
and incremental revenues, what is happening with the whole fiscal cliff mantra? once they have an understanding of what is going on and there's light at the end of the tunnel and the marketplace perceive that as something that will lead to economic growth in the united states u.n. absolutely see the individual investor get back and think aggressively. they're waiting and watching. liz: we have got to talk about perfect that you are now a coach again. you went back to your dream job, your...
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Dec 3, 2012
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in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking about is the president's plan which was delivered to gop leaders last week by the treasury secretary, timothy geithner. ca calls for $1.6 trillion in new revenue. republicans say that figure is unacceptable. until they present their own plan the white house is standing by that proposal right now. despite the parties and lines in the sand we're joined by two republican law make rs. i've overwhelmed by republican lawmakers this morning. >> you're surrounded, soledad. >> connie mack is with us this morning and mary bono mack. i'm used to it on this show. it's interesting to hear boehner saying, listen, nowh
in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking...
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we are less than a month from going over the fiscal cliff and the term economists call the series of spending cuts and expiring tax breaks that will take effect the first of the year. that could cost millions of jobs and lead to a new recession. it is basically austerity on steroids. republicans with their counteroffer today again reject the president's plan if higher taxes on families earning more than $250,000 a year. wendell is live at the white house. if they reject that i don't know how far this will go. the president could blink but his eyes seem wide open. >>reporter: it is a nonstarter if they reject continuing the upper income tax cuts. the republicans say the plan cuts the deficits by $4.6 trillion based on the white house method of counting based on the recommendations of the president's deficit reduction commission but the president could disagree. the republicans say the plan would raise $800 million through tax reform but not by phasing out the upper income bush tax cuts and before the plan was announced, white house press secretary insisted the rates will not make it t
we are less than a month from going over the fiscal cliff and the term economists call the series of spending cuts and expiring tax breaks that will take effect the first of the year. that could cost millions of jobs and lead to a new recession. it is basically austerity on steroids. republicans with their counteroffer today again reject the president's plan if higher taxes on families earning more than $250,000 a year. wendell is live at the white house. if they reject that i don't know how...
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on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish the rich and perceived reward for base. doesn't put more money in the federal treasury. the republicans give in to this in spirit of compromise, i respect alan simpson. but this is a time for the republicans to say no to spending no, borrowing. no to taxes. do you any any republicans sent to congress to facilitate the president spending to us oblivion? they no. or they will be sent home. >> president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. >> i understand that. >> but under our system the congress writes the law and president
on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish...
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even while the fate of our fragile economy hangs in the fiscal cliff balance, for that let's turn to our distinguished guests. peter goodman. he's the huffington post business editor on a former "new york times"man. we welcome back republican congresswoman nan hayworth and haddy heath, senior policy analyst with the independent women's forum. okay. so mcconnell laughed at the tim geithner proposal. and john boehner says we're at a stalemate. and president obama himself is kind of getting ugly about this enemy's list. we've seen this before from him. my proposal is, republicans have to come with a counter offer. right now. there's no point in blasting obama. just a counter offer. i want to read from today's newspaper. this is what mitch mcconnell said. "higher medicare premiums for the wealthy, an increase in the medicare eligibility age, and a slowing of costs of living increases for programs like social security. and then republicans would agree to include more tax revenue in the deal but not from higher tax rates." now, let's just look at this for a second. we'll go to you first, n
even while the fate of our fragile economy hangs in the fiscal cliff balance, for that let's turn to our distinguished guests. peter goodman. he's the huffington post business editor on a former "new york times"man. we welcome back republican congresswoman nan hayworth and haddy heath, senior policy analyst with the independent women's forum. okay. so mcconnell laughed at the tim geithner proposal. and john boehner says we're at a stalemate. and president obama himself is kind of...
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everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the recommendations in our report will lead to both of those. it would be good for american business. >> i will start with senator alexander. tell me about energy policy and where it fits in with the fiscal cliff. what we will spend money on and how we were tightened our belts. >> the major place it fits is the right policy would create an environment which would produce a lot more revenue. that would help to reduce the debt. the federal government doesn't
everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the recommendations in our report will lead to both of those. it would be good for american...
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cliff now and they're calling it the fiscal cliff because they don't want to e embrace either the tax increases or spending cuts and i think it's foolish to think this congress can come up with a better deal. >> you know what's interesting, to eric's point, there is a great irony in this that the democrats are saying we've got to raise taxes and the fiscal cliff does both. just not in the way anybody wants it, so if they can't do that, how are they going to find a way they can all agree on? >> the superfailed committee. this is a giant hatchet as opposed to a scalpel. >> it was designed to fail. >> i agree, but the real solution and real irony is going to be the ultimate deal's going to look like the obama boehner grand bargain that was negotiated and almost done in the summer of 2011. the fact that we couldn't make that deal then i think's a tragedy for the country. one of the thing's it did was lead to that aaa downgrading. that was unnecessary. >> let me just follow up on this point of what republicans should accept. you said you'd go back to the clinton era tax rates if you could
cliff now and they're calling it the fiscal cliff because they don't want to e embrace either the tax increases or spending cuts and i think it's foolish to think this congress can come up with a better deal. >> you know what's interesting, to eric's point, there is a great irony in this that the democrats are saying we've got to raise taxes and the fiscal cliff does both. just not in the way anybody wants it, so if they can't do that, how are they going to find a way they can all agree...
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going over the fiscal cliff is serious business. i am here seriously trying to reresolve it. >>reporter: a lot of people wonder if speaker boehner is trying to show he is fighting against some of the tax changes and he will come along to a deal. vice president biden went to a costco in washington, today, proclaimed himself optimistic there will be a deal and bought a big screen tv and and an apple pie. >>shepard: you mention speaker boehner and the fact is there is a group if his party, the conservative part that doesn't want him to act like he is moving and that is who he is talking to today? >>reporter: they want him to dig in. they want him to completely resist essentially going back to the old clinton administration tax rates of 39.6 percent on the top level. the bottom line when you ask about whether there is any progress there are signs of progress from the white house briefing and carney today said the president said in this phone call to speaker boehner, any deal has to have the rates going up but in the end, carney said it doesn't necessarily, he didn't say this dire
going over the fiscal cliff is serious business. i am here seriously trying to reresolve it. >>reporter: a lot of people wonder if speaker boehner is trying to show he is fighting against some of the tax changes and he will come along to a deal. vice president biden went to a costco in washington, today, proclaimed himself optimistic there will be a deal and bought a big screen tv and and an apple pie. >>shepard: you mention speaker boehner and the fact is there is a group if his...
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and pay roll tax cuts and that would prevent us off of the fiscal cliff and tell harry reid do what you want and this is where why are. republicans have made a mistake by indicating they would go along with $800 billion in taxes and now you have negotiating. >>> and why did the republicans caved in the pressure and said they would accept a tax hike. >> that's the point. republicans indicated they are far more afraid of going over the cliff than the democrats. bark obama said i am ready to go off of the cliff unless you give me x, yand z . that's where the republicans made a mistake. >> if they pass and extend all of the tax cuts and send them over to the senate, they have done their job . if why go over the cliff then, it will be because of the president of the united states. it will be his economy. it will be his presidency on the line and also the country. if barak obama believes in the clinton tax cuts, let them go back into affect for the entire country and see if the country believes they are good for america. >> the president is campaign acting like he received a anytime perce
and pay roll tax cuts and that would prevent us off of the fiscal cliff and tell harry reid do what you want and this is where why are. republicans have made a mistake by indicating they would go along with $800 billion in taxes and now you have negotiating. >>> and why did the republicans caved in the pressure and said they would accept a tax hike. >> that's the point. republicans indicated they are far more afraid of going over the cliff than the democrats. bark obama said i am...
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cliff. the edge of that is so close to us. are we going over it? what will take to reach a deal? newt gingrich says it takes sitting down and talking face-to-face. >> if they wanted to sit and really talk, -- i always remind people, clinton had been governor, he years negotiating with legislatures. when we took control of the congress, we sort of got the dance. he and i spent 35 days face-to-face, it wasn't this my staff will meet with your staff and we'll have a brief call. nonsense. you have to be in a room. you have to listen to each other. >> greta: where is president obama today? he was not in washington. he was at a toy factory in pennsylvania. to many he seems to be back on the campaign trail, campaigning for his fiscal ideas. governor palin, speaker gingrich who has battled with president clinton on big issues says you have to sit down in the same room, this is being outsourced. how do we get these parties to talk? >> speaker gingrich knew then as he knows now, the house of represent
cliff. the edge of that is so close to us. are we going over it? what will take to reach a deal? newt gingrich says it takes sitting down and talking face-to-face. >> if they wanted to sit and really talk, -- i always remind people, clinton had been governor, he years negotiating with legislatures. when we took control of the congress, we sort of got the dance. he and i spent 35 days face-to-face, it wasn't this my staff will meet with your staff and we'll have a brief call. nonsense. you...
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Dec 5, 2012
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tonight we are one day closer to the fiscal cliff and not one iota closer to a deal to avoid it. now, on january 1st, four weeks from today, automatic tax hikes and spending cuts kick in with potentially serious consequences for virtually every taxpayer in america. there has been zero progress on a deal, zero. keeping them honest though, the american people clearly want some sort of a compromise. polls show they want results but the two sides are still far apart on the issue at the heart of the debate, whether the wealthiest americans should pay more taxes than they do right now. the people you elected to get things done simply are not getting it done, not even close. but maybe we should not be surprised, because in a cnn/orc poll taken a few weeks ago, 67% said washington officials would behave like spoiled children in fiscal cliff discussions. only 28% said they would behave like responsible adults. with that in mind, here's what the key players, the grownups, have said in just the past 24 hours. listen. >> the math, it doesn't work. >> his proposal was so outlandish, i don't t
tonight we are one day closer to the fiscal cliff and not one iota closer to a deal to avoid it. now, on january 1st, four weeks from today, automatic tax hikes and spending cuts kick in with potentially serious consequences for virtually every taxpayer in america. there has been zero progress on a deal, zero. keeping them honest though, the american people clearly want some sort of a compromise. polls show they want results but the two sides are still far apart on the issue at the heart of the...
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cliff, all those horrible cuts that could plunge us into a depression and all the rest that no democrats want either. so are you serious, you really -- are you really saying what i think you're saying, that is that it might be a strategy that the president really wants? wants us all to go over the cliff? and then just blame you? >> yeah. that i think that's to his political advantage to do that, because then he gets to blame us, set up the 2014 elections by us being the bad guys. but look at this. a lot of my colleagues on the other side of the aisle like the $600 billion hit to the defense department and they'll absorb the 2% of cuts to the other programs out there, and remember, none of the cuts that are in the sequestration have to do with the big three on the entitlement programs. most of us would love to see an erskine-bowles type of solution put on the table here. >> so what if there were -- >> the simpson-bowles, sorry. >> simpson-bowles, i understood what you mean. there is an erskine bowles as well. what about congressman tom coley, your colleague, and his overture that you woul
cliff, all those horrible cuts that could plunge us into a depression and all the rest that no democrats want either. so are you serious, you really -- are you really saying what i think you're saying, that is that it might be a strategy that the president really wants? wants us all to go over the cliff? and then just blame you? >> yeah. that i think that's to his political advantage to do that, because then he gets to blame us, set up the 2014 elections by us being the bad guys. but look...
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cliff. let's listen in. >> that ends up on store shelves in 30 countries is stamped made in america, and that's something to be proud of. that's something to be proud of. >> by the way, i hope the camera folks have a chance for take a look at some of the k'necs, including that flag made of them. joe biden was in costco. he wanted buy some of this stuff, but i told him he had too much work to do. i wasn't going to have him building roller coasters all day long. now, of course, santa delivers everywhere. i have been keeping my own naughty and nice list for washington, so you should keep your eye on who gets some k' necs this year. some members of congress will get them, and there will be some who don't. [ applause ] >> this is a wonderful time of year. it's been a few weeks since a long election finally came to an end, and obviously i couldn't be more honored to be back in the white house, but i'm already missing the time that i spent on the campaign visiting towns like this and talking to fol
cliff. let's listen in. >> that ends up on store shelves in 30 countries is stamped made in america, and that's something to be proud of. that's something to be proud of. >> by the way, i hope the camera folks have a chance for take a look at some of the k'necs, including that flag made of them. joe biden was in costco. he wanted buy some of this stuff, but i told him he had too much work to do. i wasn't going to have him building roller coasters all day long. now, of course, santa...
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Dec 4, 2012
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the republicans may make another compromise with their latest counter offer on the fiscal cliff. not as many spending cuts as they originally wanted and slight entitlement reform. the white house has just reject this offer out of hand and once again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking tonight, potential catastrophe if syria uses its chemical weapons. president obama issues a stern warning to syria and i quote the world is watching. and there will be consequences if syria uses these wmds. have we just committed ourselves to another war? and the gun control debate is squarely back in the spotlight tonight after the murder/suicide by nfl player in kansas city, second amendment instead of blaming the sick people who use them. republicans have responded to a fiscal cliff counter offer to president obama. eamon javers joins us now from washington with all the details. good ev
the republicans may make another compromise with their latest counter offer on the fiscal cliff. not as many spending cuts as they originally wanted and slight entitlement reform. the white house has just reject this offer out of hand and once again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking...
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we're going over the fiscal cliffs. >> senator susan collins are facing budget cuts they would like to pay for the storm cleanup. the uncertain fate of the relief money comes little more than a month after the jaw dropping pre-rel pre-election image of president obama and governor christie shoulder to shoulder, a time when he promised to help victims quickly. >> i want you to cut through red tape. i want you to cut through bureaucracy. there's no excuse for inaction at this point. >> the white house said the president remains committed. >> there's no question what the president saw on staten island that enormous suffering continues. that's why we're looking at states and localities to continue the effort to assist in the recovery. >> reporter: a top congressional aide tells cnn lawmakers are waiting to see the administration proposal, and an administration official tells cnn the white house is still crunching its numbers. as for chris christie, who is up for re-election in new jersey next year, the top aide to the governor had no comment. just to get to a staggering sum of money we're
we're going over the fiscal cliffs. >> senator susan collins are facing budget cuts they would like to pay for the storm cleanup. the uncertain fate of the relief money comes little more than a month after the jaw dropping pre-rel pre-election image of president obama and governor christie shoulder to shoulder, a time when he promised to help victims quickly. >> i want you to cut through red tape. i want you to cut through bureaucracy. there's no excuse for inaction at this point....
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bob doll is here to join us, find out why he thinks we're going to get a deal on the fiscal cliff and why the tax increases and the cuts in the government won't be as severe as a lot of people are fearing. >> sounds optimistic. and a new report showing more small businesses are putting a for sale sign on their doors. who's selling, who's buying, and why? it's the internet's largestsell, marketplace for buying and selling small businesses. ♪ [ male announcer ] this is steve. he loves risk. but whether he'slimbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with peoplee trusts, which is why he trades with a company that doesn't nick and dime him with hidden fees. so he can worry about other things, like what the market is doing and b ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. can i still ship a gift in time r christmas? yeah, sure you ca great. where's yr gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas deliver
bob doll is here to join us, find out why he thinks we're going to get a deal on the fiscal cliff and why the tax increases and the cuts in the government won't be as severe as a lot of people are fearing. >> sounds optimistic. and a new report showing more small businesses are putting a for sale sign on their doors. who's selling, who's buying, and why? it's the internet's largestsell, marketplace for buying and selling small businesses. ♪ [ male announcer ] this is steve. he loves...
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on this community. >> reporter: other possible fiscal cliff cuts that could hit rock island include the army corps of engineers, they're here in part to manage locks along the mississippi. there's cuts to public education, which the national school board association say could have profound impact if congress doesn't act. and potential cuts to social services. more than 12% of rock island's population lives below the poverty line. and of course, there are tax hikes. at theo's coffee shop, people have a lot to say about washington, d.c. and the fiscal cliff. james cheeks says he is counting on congress to prevent his taxes from going up. >> scary. you know, it's scary. where is that money going to come from, you know, how am i going to pay that extra tax hike. >> reporter: one booth over, ted and gus say they don't think congress can avoid the cliff. >> i hope so, but i don't see it yet. >> if we're going to have standoffs, have that do nothing congress, it is going to be awfully toug to get anything done. >> reporter: potential effects of the fiscal cliff in rock island, illinois are
on this community. >> reporter: other possible fiscal cliff cuts that could hit rock island include the army corps of engineers, they're here in part to manage locks along the mississippi. there's cuts to public education, which the national school board association say could have profound impact if congress doesn't act. and potential cuts to social services. more than 12% of rock island's population lives below the poverty line. and of course, there are tax hikes. at theo's coffee shop,...
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so that's why in the fiscal cliff negotiations it would be counterproductive if congress cut invest. >>> in education and job training to "reduce the deficit" in a way that would impact future economic growth. we've got to fix the workforce investment, the job training system in the united states to prepare people for the types of jobs that ceo has. >> you've been there, you've had to forge deals between warring constituencies. fiscal cliff. what would the solution be if you were handling it? >> i like the idea of the president, john boehner, the key players, getting together with no staff in the room. the second thing, they've got to be guided by a couple of things. number one, what is best for the nation? not my party, not my philosophy, not necessarily my politics. number two -- >> you'd like it one on one. >> editd' i'd like it one on on discuss specifics in a one on one way. second, they may agree there should be short-term steps and long-term steps, i think we can get there. the nation is counting on them doing something significant. >> saints/giants this weekend? >> i've got t
so that's why in the fiscal cliff negotiations it would be counterproductive if congress cut invest. >>> in education and job training to "reduce the deficit" in a way that would impact future economic growth. we've got to fix the workforce investment, the job training system in the united states to prepare people for the types of jobs that ceo has. >> you've been there, you've had to forge deals between warring constituencies. fiscal cliff. what would the solution be...
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Dec 6, 2012
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. >> just to recap, you seem very nervous about the coming weeks partly because of the fiscal cliff. people who already train and who work out regularly, you're one of the ultimate kind of discretionary expenditures, of those things that people might cut back on going into christmas. >> i think it's an unknown, i won't say it worries us, i think we have a very core guest and i think that gives me a lot of confidence in the back half of the quarter is the very strong sales that we have seen starting in october through november, we have seen a great acceleration so we know that we're a very giftable item and we would expect to see strong gift card redemption sales and so i think there's a lot of things that give us confidence that we can have a great quarter. >> christine, how big can men's be. i'm trying to figure out if you can be like nike. >> i think from there's a huge market still that we're actually creating in the athletic technical wear space as well as the technical street, which is a very big market and without putting a time frame on it, we definitely see ourselves with a b
. >> just to recap, you seem very nervous about the coming weeks partly because of the fiscal cliff. people who already train and who work out regularly, you're one of the ultimate kind of discretionary expenditures, of those things that people might cut back on going into christmas. >> i think it's an unknown, i won't say it worries us, i think we have a very core guest and i think that gives me a lot of confidence in the back half of the quarter is the very strong sales that we...
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but if you actually see the country going over the fiscal cliff, you see these huge spending cuts kicking in at the same time as higher taxes, i know the thinking is the president can say this is the republican's fault for doing this, but do you think he'd really stay over the cliff given what that would mean to the economy in such rapid fire fashion? >> i think the sequestration is more of a problem thax the tax rates. sequestration requires very big cuts very quickly which would jaw the economy. i think the president could give a speech over the next two weeks, prepare americans for going over the cliff and it's not guilty not going to be a big deal because tax rates are going to revert to where they were and the serious conversations with republicans begin. it gives everybody an opportunity to save face. the president gets what he wants. all the tax rates are go up. he can pull back the 98%. the republicans won't go against that. so in some ways, it works in everyone's political interest. sequestration is a big problem because if that goes into effect, the country certainly almost goes
but if you actually see the country going over the fiscal cliff, you see these huge spending cuts kicking in at the same time as higher taxes, i know the thinking is the president can say this is the republican's fault for doing this, but do you think he'd really stay over the cliff given what that would mean to the economy in such rapid fire fashion? >> i think the sequestration is more of a problem thax the tax rates. sequestration requires very big cuts very quickly which would jaw the...
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cliff, and he's clearly not interested at all in cutting any spending. >> reporter: while democrats and republicans debate the size and specifics on tax increases, the two sides also remain apart on spending cuts, reforming entitlement programs like medicare and on the president's request to have greater power to raise the country's debt limit. but the news coming out of this one, "wall street journal" headlines saying that staff members from the president's team and from speaker boehner's team are genre assuming talks. we confirmed as of a couple of hours hag that that wasn't the case, so we're going to check on that right now. david: what they're talking about, we don't know. liz: maybe not dead in the water. david: thank you, rich, appreciate it. liz: we've got good news for all of you last minute shoppers out there coming up in the speed read. david: and up next, first on fox business, tom kloet, ceo of tmx group, a parent of the toronto stock exchange, on the impact of all these regulations coming out of our country. how will they affect businesses in his country? that's coming
cliff, and he's clearly not interested at all in cutting any spending. >> reporter: while democrats and republicans debate the size and specifics on tax increases, the two sides also remain apart on spending cuts, reforming entitlement programs like medicare and on the president's request to have greater power to raise the country's debt limit. but the news coming out of this one, "wall street journal" headlines saying that staff members from the president's team and from...
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frankly, going over the fiscal cliff is a win for the president. so either way we're going to get it. >> but i don't see why that's true because -- first of all, the president has talked around what kind of cuts he wants to do in nondefense discretionary and about a third of a tral dollars in ten years of entitlements. he's talked along those lines. if he doesn't give you a definition and details by the time you go to vote, obviously you won't vote for it. what's your risk? he's got to get in the pot, too, with his part of the deal. well before the end of the year. >> yeah, i think he wins by playing the political games because -- >> what game? >> you've met -- well, the setting up -- saying that we have to take a tax vote before he's even willing to discuss anything else. >> you said he wants to vote on that without the package being prepared. >> well, that's right. he wants us -- he said that the other day, that he wants us to take that tax vote to prove our sincerity. well, i'll tell you what. if he comes with a big package that does raise reven
frankly, going over the fiscal cliff is a win for the president. so either way we're going to get it. >> but i don't see why that's true because -- first of all, the president has talked around what kind of cuts he wants to do in nondefense discretionary and about a third of a tral dollars in ten years of entitlements. he's talked along those lines. if he doesn't give you a definition and details by the time you go to vote, obviously you won't vote for it. what's your risk? he's got to...
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i guess the fiscal cliff fear has people not shopping for a mattress. >> something like that. you're depressing me. lift my spirits with brown foreman. >> we didn't booze up before the thing but we probably could have. the stock is not moving today. not only is it fun to talk about spirits, but second quarter net income rose 9.8%, raising full year guidance. margins were higher. it's an ig nonomonous number. >>> your biggest corporate story of of the day involves citi group. bank saying it will slash 11,000 jobs in order to save more than $1 billion a year. let's talk more about it with glen shore. he has a buy rating on citi with a $41 price target. glen, stock already at $38 and change. will it take this move or more to get to your target of $41? >> we're moving quickly. i think you had an initial pop on it today but long story short, people have understood they had differentiated growth outside the u.s. they have capital building. they have less mortgage related exposure than some of the other banks. this was the other piece of the story that people really wanted to see lit
i guess the fiscal cliff fear has people not shopping for a mattress. >> something like that. you're depressing me. lift my spirits with brown foreman. >> we didn't booze up before the thing but we probably could have. the stock is not moving today. not only is it fun to talk about spirits, but second quarter net income rose 9.8%, raising full year guidance. margins were higher. it's an ig nonomonous number. >>> your biggest corporate story of of the day involves citi...
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now, he may, in fact, want us to all go over the fiscal cliff. after all, he would be able to point the finger of blame at the republicans to get all the tax hikes he wants, all the defense cuts he's always wanted and some democrats are stating flat out they want to go over the fiscal cliff. watch this. >> i personally think you'll get a lot more deficit reduction if we do the fiscal cliff. i think the markets will reward the fiscal cliff over a period. there will be some panic and moaning and groaning, but first of all, the fiscal cliff is not a real cliff. it's a slope. and you're going to get the biggest bank for the buck in terms of deficit reduction. i think the economy can stand it. yes, we will go into two quarters of recession the cbo says, and i believe that. we're in deep trouble here. somebody's going to have to pay the bill. it's going to have to be all of us. >> joining me with more on all of this, patrick j. buick as well as former clinton special counsel davis. the president campaigns on $800 billion in new taxes. he now wants 1.6
now, he may, in fact, want us to all go over the fiscal cliff. after all, he would be able to point the finger of blame at the republicans to get all the tax hikes he wants, all the defense cuts he's always wanted and some democrats are stating flat out they want to go over the fiscal cliff. watch this. >> i personally think you'll get a lot more deficit reduction if we do the fiscal cliff. i think the markets will reward the fiscal cliff over a period. there will be some panic and...
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i have two questions concerning the fiscal cliff. the cash cuts that republicans -- the spending cuts on medicare. why don't we allow them to negotiate medicare and to reduce the cost of medicine? that should save you a lot of money yearly. i agree totally about the republicans and democrats spending money stupidly just before the election. both sides voted to refurbish something like 170 army tanks that the army said they'd do not need. they went and voted to repair those tanks. why are we wasting our money? democrats want to cut taxes. host: armstrong williams? guest: we haven't gotten to affordable care and medicare and medicaid. if affordable care was administered correctly and if he did not have the special interest groups and if tort reform was not included, package you move forward in making health care work for anyone if you do not bring tort reform to the table? the medical malpractice lawsuits are out of control where doctors are paranoid and have to think twice before going through these procedures. it becomes a nightmare
i have two questions concerning the fiscal cliff. the cash cuts that republicans -- the spending cuts on medicare. why don't we allow them to negotiate medicare and to reduce the cost of medicine? that should save you a lot of money yearly. i agree totally about the republicans and democrats spending money stupidly just before the election. both sides voted to refurbish something like 170 army tanks that the army said they'd do not need. they went and voted to repair those tanks. why are we...